Permian Resources Co. (NYSE:PR) CAO Robert Regan Shannon Sells 2,731 Shares

Permian Resources Co. (NYSE:PR) CAO Robert Regan Shannon sold 2,731 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the transaction, the chief accounting officer now directly owns 58,668 shares in the company, valued at approximately $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Permian Resources Stock Down 0.8 %

PR stock opened at $12.46 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a 52-week low of $11.84 and a 52-week high of $18.28. The company has a 50-day moving average of $14.63 and a two-hundred day moving average of $14.42. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 4.05 and a beta of 4.28.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s dividend payout ratio is currently 41.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PR shares. Truist Financial boosted their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Morgan Stanley began coverage on shares of Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target for the company. Susquehanna upgraded shares of Permian Resources from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $17.00 to $20.00 in a research note on Wednesday. Citigroup reduced their price target on shares of Permian Resources from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Piper Sandler upped their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of “Buy” and an average target price of $19.38.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Principal Securities Inc. raised its position in Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after purchasing an additional 852 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Permian Resources during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC boosted its stake in Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after acquiring an additional 1,232 shares during the last quarter. Rakuten Securities Inc. boosted its stake in Permian Resources by 1,152.5% in the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after acquiring an additional 2,305 shares during the last quarter. Finally, RE Dickinson Investment Advisors LLC bought a new position in Permian Resources in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Company Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.